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as this week. >> pope benedict xvi giving his last sunday blessing to a massive crowd in st. peter's square. thanking the faithful before he resigns on thursday. and italians are heading to the polls today in a crucial parliamentary election that could shape their future. italy is one of europe's biggest economies. >> kelly: office depot's acquisition of office max among mergers that have been announced recently. wall street appear to have approved but the mergers must get by the justice department. lately they have made a habit of blocking similar deals. what is going on here? joining us is brenda buttner, anchor of "bulls and bears", and always good to see you. why are we seeing so many of these messager deals taking shape? >> money. there is so much corporate cash on the sidelines that has not been invested. essentially what is happening, i think outside the financial sector, it's estimated there is $1.7 trillion on the sidelines in corporate cash reserves. they need to do something with that money. they are feel more confident. they are going to go on a shopping spree and essentially bu
. >> plus pope benedict retires in a few days. as he prepares to leave there's one more scandal overshadowing the vatican. almost tastes like one of jack's cereals. fiber one. uh, forgot jack's cereal. [ jack ] what's for breakfast? um... try the number one! yeah, this is pretty good. male announcer ] over a third of a day's fiber. fiber one. ♪ shimmy, shimmy chocolate. ♪ shimmy, shimmy chocolate. ♪ we, we chocolate cross over. ♪ yeah, we chocolate cross over. ♪ [ male announcer ] introducing fiber one 80 calorie chocolate cereal. ♪ chocolate. >> welcome back, everybody. good morning. we are starting this half-hour off with a quick look at the weather. here's lisa argen. >> good morning to you. this is a live look at emeryville this morning. some neighborhoods are starting out milder and that's because of the strong northerly winds. it's allowing for the temperatures toasty up near 50 degrees this morning and oakland. in san francisco and elsewhere we are dropping into the 30s from the north and east bay valleys. range from the mid-30s to the lower 50s with clear con
to turn to the headlines coming in right now on the pope. we just learned that benedict will be called emeritus pope and will wear white after he steps down next week. his retirement this week is being clouded by scandal, as there are more calls to stop an american cardinal from participating in the election of the next pope. abc's david wright is in rome right now with the very latest. good morning, david. >> reporter: good morning, elizabeth. the process to replace pope benedict is now on the fast track. we've also just learned that the deacon of the college of cardinals will summon the cardinals on friday to their first meeting, which will take place on monday, march 4th. never before has the cardinal given the conclave amidst a scandal. and that raises the pressure for the other cardinals tainted by scandal, among them, roger mahoney, who for years, covered up for pedophile priests. for 24 hours, britain's cardinal keith o'brien has holed up in this home in scotland. >> the holy father accepted the resignation of cardinal o'brien. >> reporter: on sunday, a british newspaper reporte
turned out to the oscar party. in downtown san rafael, sergio quintana, abc news. >> pope benedict gave his blessing in vatican city as the rumors swirled over his sudden resignation. >> the pope gave thanks to the crowd of 100,000 in saint peter's square. on thursday pope benedict will become the first to resign in 600 years. he will live in a monistary. the pontif is stepping down because of a sex and blackmail scandal that is about to be made public. a man connected to the catholic church's sex scandal is on his way to rome to help pick the successor. cardinal roger mahoney tweeted he will keep followers informed of the proceedings. this morning mahoney spent hours being deposed on a sex abuse alaskan del that -- on a sex abuse scandal on his watch. he has apologized for his actions. >>> a reward has been set up for a missing bay area couple traveling in peru. abc7 news reporter lilian kim with more on that story. >> it has been a month since thib has heard from them. and the co-workers are now taking action. they set up a reward fund that has grown to $3,000 for information leading
and internet. rethink possible. >>> in just three days pope benedict xvi will formally resign and as he prepares to step assign 11 u.s. cardinals are preparing to vote for a new pope, among them a former san franciscoian cardinal. another representative who will be attend that go conclave. kris sanchez has more. >> reporter: at 13 tim says he was raped and abused by his parish priest. as cardinals head to rome to select the next pope, he does not want retired cardinal roger mahoney to be among them because of his role in shielding pedophile priests. >> those kind of officials, no matter what institution, should not be part of the process of any decision of the hierarchy. >> reporter: but cardinal mahoney of los angeles has said he would not recuse himself from the conclave and he has the support of former san francisco archbishop laveda who departs for the conclave himself tomorrow. >> he is the first one to have said and apologized for the error in judgment he made as a young bishop 0. >> reporter: saturday cardinal mahoney was deposed in a lawsuit out of l.a. alleging he helped cover
to rome to see pope benedict xvi. he gave his final blessing on a sunday to a massive crowd at the vatican. he will make his final public pier rance wednesday and official stlips down thursday. the cardinals will decide when to begin the conclave. archbishop washington will help choose the new hope but he doubts it will be an american. >> i don't think it will be who is supposed to be reminding them the responsibility to build peace. >> they hope to have the new hope in place by holy week. >> jimmy johnson does it again at daytona. >> the daytona 500 goes to jimmy johnson five time champion from california. >> congrats to him. johnson starting the season with his second win at daytona. he is the 10th driver to do that. the first women winning the poll for daytona that is the highest finish ever for a woman. that's your 5 at 5:00. >> heather is the new car racing expert around here. >> the area hit by a blizzard while many are recovering a record breaking snowstorm. they are expected to drop another foot of snow on areas stretching from texas to kansas. big concern the road conditions. mari
benedict xvi steps down. two italian papers say the reason he's leaving has nothing to do with his health and much more so to do with his explosive 300 page report. among the allegations here, secrets about a network of gay priests blackmailed by a group of male prostitutes. but, the vatican says the contents of this report will, as they say, remain for the pope's eyes only. >> the holy father has decided that the acts of this investigation known only to himself remain solely at the disposition of the new pope. >> and as you can imagine, the fallout is going global. today, one of the uk's highest ranking catholic leaders resigned as he's dogged by accusations of sexual abuse. i want to go straight to christiane amanpour, live tonight in rome. tell me what exactly is cardinal keith o'brien accused of and what does his resignation thus mean for the vote for the next pope? >> reporter: well, look, brooke, here we are standing in front of st. peter's, right there, the heart of the vatican. as you say, they are in damage control and they really did not expect that the last few days of the pope
of benedict's papacy, while scandal and intrigue engulf some of the men who will choose the next pope. even in his final days as pope, scandal continues to dog benedict's papacy and the church. italian newspapers headline rumors of blackmail and conspiracy that the vatican vehemently denies. american cardinal roger mahony has ignored calls to stay home from a conclthat chooses the next pope because of his role protecting abusive priests. scottish cardinal keith o'brien, who commented on mahony's situation last week. >> someone has erred and we have anoth another. >> reporter: today cardinal o'brien resigned after being accused by three priests and former priest of inappropriate behavior going back to the 1980s. ugly headlines that one vatican watcher says will shape the deliberations of the conclave. >> some of this is politics, but other parts of it are the long delayed, reckoning with problems that require facing and correcting in the church. >> reporter: the scandals have left many of the faithful weary. >> i'm a true believer and i hope that catholics will get a better name these days.
on the way to see pope benedict the 16th. sunday he gave his final blessing to a massive crowd. he'll make a final appearance wednesday and officially step down thursday. then the cardinal will decide when to pick the next pope. >> i don't think it will be seen as a very good thing if the pope who is supposed to be reminding them of their responsibilities to build peace. >>gretchen: the vatican plans to have the new pope in place by holy week. hamid karzai kicking troops out of a crucial region. he ordered special forces to leave the province outside kabul in two weeks over abuse claims. afghan security officials claim afghan troops are harassing, torturing and killing innocent people in villages. karzai demands the u.s. hands over individuals involved. the u.s. is investigating the claims. >> jimmy johnson does it again at daytona. >> the daytona 500 goes to jimmy johnson, five-time champion. >>gretchen: johnson starting the season with his second win at daytona, the tenth driver to do that. danica patrick, the first woman to win, finished eighth. saturday's crash still on everyone's mind
an hour. just hours ago, pope benedict bestowed his final sunday blessing overlooking st. peter's square. he told a crowd estimated at 100,000 people that he will take up a life of private prayer and will continue to serve the church. wednesday will be his last public audience and thursday is his final day as pope. the nation's governor in town for talks this weekend, the deadline and how much it may cost their states is driving the discussion. a democrat, head of the national governors association said he's worried the automatic cuts would send states into recession. >> we are very concerned, particularly the effect on the economy. i think a lot of us feel like after some very difficult years, things are getting a little bit better. unfortunately, this could put us right back where we were. >> my advice to the president, stop the campaigning, stop getting the campaign secretaries to scare your people. do the hard work of governing. >> shannon: senator john mccain's calling on the president to call a summit. and senator lindsay graham is calling on the president to take a pay cut for eve
: the vatican is on the defense this morning. it denies claim from italian media that pope benedict decided to resign after getting a report from cardinals in december outlining corruption and homosexuality in the vatican. >> the pope's resignation takes effect on thursday. at a vatican news conference, we deseed that he started to move up the process of -- dear decided to move up the -- decided to move up the process of electing a new pope. the vatican today denied claims the pope is resigning under these claims. >> i don't worry they are being taken in by it. >> three cardinals authored the pope. the pope read this report in december and considered releasing it to other cardinals but instead the word is from the vatican he's putting it back in the papal abeat its waking the next pope's review. keith o'brien from scotland is being forced into early resignation. all of this is happening as california's 11 million catholics observe lent. live in washington, kyla campbell, ktvu channel 2 news. >>> peninsula state assemblyman jerry hill is calling for an audit of the state public utilities com
story tonight-- a new controversy is rocking the vatican in benedict the 16th's final days as pope. a report. first published in the rome daily details an investigation by three cardinals into a network of gay priests that were blackmailed by a group of male prostitutes. it also contains information on financial wrongdoing within the vatican. the vatican responded by saying the story is an attempt to use public opinion to influence the cardinal's decision in the upcoming new pope election. >> a class action civil trial stemming from the b-p oil disaster gets underway today court. the 20-10 oil rig explosion killed 11 people. and millions of gallons of oil polluted the gulf of mexico. the trial has been divided into two phases. phase one will focus on the actions that led up to the explosion. phase two will determine the financial penalties bp and others will face for violating the clean water act. and the natural resource damage assessment. almost 60 lawyers in all will fill the courtroom. >> the white house turning up the heat on congress today with a state by state breakdown of w
$4.16. in san jose $4.17. >> pope benedict the 16th has changed the rules of the conclave that will lead his successor, allowing part of to move up the start date if all of them arrive in russia for the usual 15 a transition between pontificates. benedick signed a legal document, issued this morning, with some line by line changes in the 1996 vatican law governing the election of a new pope. it is one of the last act as pope before resigning thursday. the date of the conclave started support because holy week begins march 24th, with easter sunday march 31st. in order to have a new pope in place, he would need to be installed by sunday, march 70. a tight timeframe if a conclave for to start march 15th. >> president obama says a little compromises all congress needs to turn off automatic, across-the-board budget cuts set to kick in less than a week from now. while, obamas says the so- called sequester will slow the economy and hurt the middle class, many republicans are calling the issue and problem and leadership. >> i will not put all the blame on the president of the nine
Search Results 0 to 19 of about 20 (some duplicates have been removed)